|
|
 |
| Hosting News |
Stull, Stull & Brody Announces Class Action Suit against Exodus web hosting news |
Want to add a web hosting news article ? Just do'it, it's free! Use submit form for hosting news!| Stull, Stull & Brody Announces Class Action Suit against Exodus Jul 19, 2001 | The law firm of Stull, Stull & Brody (secfraud.com) filed a
class action complaint yesterday on behalf of all persons who acquired
Exodus Communications, Inc. (exodus.net) securities between March 20, 2001 and June 20, 2001. The complaint charges Exodus, a leading managed hosting provider, and its senior executives, with violations of the Securities Exchange Act of 1934.
The complaint alleges that during the Exodus' executives devised a plan to
stop the decline of the company's share price at a time when they knew
Exodus' business was falling victim to both general economic slowdown and
the dot-com bust. The complaint asserts that defendants issued a series of
false and misleading statements designed to keep Exodus's stock price high
while certain defendants sold over
441,667 shares of Exodus common stock for over $4.2 million in proceeds.
The complaint alleges that as a result of the defendants' conduct, the
complainants suffered damages. The plaintiff seeks to recover damages on
behalf of class members and is represented by Stull, Stull & Brody, who is
experienced in prosecuting class actions on behalf of shareholders.
This news comes after a similar class action complaint launched against
Exodus (among other companies) by the firm of Weiss & Yourman. | Reads: 670 | Category: General | Source: TheWHIR : Web Host Industry Reviews
URL source: http://www.thewhir.com/marketwatch/exodus719.cfm
<-- Previous web hosting article: Rackspace and PostgreSQL Offer Support for Open Source Database Apps | Next web hosting article: Public Web Hosts - Last Week in Review Adam Eisner, theWHIR.com --> |
|
Want to add a WEB HOSTING news article ? Just do'it, it's free! Use submit form for web hosting news! |
| |
| | |
